Jinko Solar (NYSE:JKS)’s share price traded down 0.2% during mid-day trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $18.30 and last traded at $18.64. 1,144,908 shares were traded during trading, an increase of 89% from the average session volume of 605,500 shares. The stock had previously closed at $18.60.
The semiconductor company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). Jinko Solar had a net margin of 0.53% and a return on equity of 2.15%. The business had revenue of $976.40 million for the quarter, compared to analyst estimates of $971.40 million. During the same quarter last year, the business earned $1.04 earnings per share. Jinko Solar’s revenue was up 32.4% on a year-over-year basis.
A number of equities research analysts have recently commented on the company. Vertical Group assumed coverage on Jinko Solar in a research report on Friday, February 2nd. They set a “sell” rating on the stock. Goldman Sachs started coverage on Jinko Solar in a report on Tuesday, January 9th. They issued a “sell” rating and a $16.00 price objective on the stock. UBS started coverage on Jinko Solar in a report on Friday, March 16th. They issued a “buy” rating and a $26.00 price objective on the stock. Vertical Research started coverage on Jinko Solar in a report on Friday, February 2nd. They issued a “sell” rating on the stock. Finally, Zacks Investment Research cut Jinko Solar from a “buy” rating to a “sell” rating in a report on Wednesday, February 7th. Seven investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Jinko Solar currently has a consensus rating of “Sell” and a consensus target price of $20.00.
The company has a market cap of $717.31, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 0.77.
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Jinko Solar Company Profile
JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. It offers solar modules, solar cells, silicon ingots, silicon wafers, and recovered silicon materials.
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